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elena55 [62]
3 years ago
6

if you deposit $4500 at 5% annual interest compounded quarterly, how much money will be in the account after 10 years?

Mathematics
1 answer:
melomori [17]3 years ago
5 0
<span>$7,396.29 is your Answer for the quarterly compounded interest of $4,500.

</span>

<span>A = P (1 + r/n)<span> (nt)</span></span>

Where:

A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for

<span>

</span>
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